National Beverage (FIZZ) 10-K 27 Jun 18 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Billions	12 Months Ended
	Apr. 28, 2018	Jun. 22, 2018	Oct. 27, 2017
Document Information [Line Items]
Entity Registrant Name	National Beverage Corp.
Entity Central Index Key	69,891
Trading Symbol	fizz
Current Fiscal Year End Date	--04-28
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		46,618,240
Entity Public Float			$ 1.1
Document Type	10-K
Document Period End Date	Apr. 28, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 28, 2018	Apr. 29, 2017
Current assets:
Cash and equivalents	$ 189,864	$ 136,372
Trade receivables - net	84,360	71,319
Inventories	60,920	53,355
Prepaid and other assets	17,823	7,275
Total current assets	352,967	268,321
Property, plant and equipment - net	85,807	65,150
Goodwill	13,145	13,145
Intangible assets	1,615	1,615
Other assets	5,298	5,752
Total assets	458,832	353,983
Current liabilities:
Accounts payable	74,853	58,100
Accrued liabilities	29,718	29,017
Income taxes payable	99	89
Total current liabilities	104,670	87,206
Deferred income taxes net	14,502	12,087
Other liabilities	8,220	9,072
Shareholders' equity:
Common stock, $.01 par value - 75,000,000 shares authorized; 50,650,784 shares (2018) and 50,616,134 shares (2017) issued	507	506
Additional paid-in capital	36,358	35,638
Retained earnings	307,824	227,928
Accumulated other comprehensive income (loss)	4,601	(604)
Total shareholders' equity	331,440	245,618
Total liabilities and shareholders' equity	458,832	353,983
Series C Preferred Stock [Member]
Shareholders' equity:
Preferred stock, $1 par value - 1,000,000 shares authorized, Series C - 150,000 shares issued	150	150
Treasury stock, value	(5,100)	(5,100)
Treasury Stock, Common [Member]
Shareholders' equity:
Treasury stock, value	$ (12,900)	$ (12,900)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Apr. 28, 2018	Apr. 29, 2017
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	50,650,784	50,616,134
Series C Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares issued (in shares)	150,000	150,000
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Treasury stock, shares (in shares)	150,000	150,000
Treasury Stock, Common [Member]
Treasury stock, shares (in shares)	4,032,544	4,032,544

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Net sales	$ 975,734	$ 826,918	$ 704,785
Cost of sales	584,599	500,841	463,348
Gross profit	391,135	326,077	241,437
Selling, general and administrative expenses	186,947	163,600	148,384
Interest expense	201	189	203
Other (income) expense - net	(1,502)	(537)	145
Income before income taxes	205,489	162,825	92,705
Provision for income taxes	55,715	55,780	31,507
Net income	149,774	107,045	61,198
Less preferred dividends and accretion			(238)
Earnings available to common shareholders	$ 149,774	$ 107,045	$ 60,960
Earnings per common share:
Basic (in dollars per share)	$ 3.21	$ 2.30	$ 1.31
Diluted (in dollars per share)	$ 3.19	$ 2.29	$ 1.31
Weighted average common shares outstanding:
Basic (in shares)	46,598	46,564	46,452
Diluted (in shares)	46,921	46,770	46,671

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Net income	$ 149,774	$ 107,045	$ 61,198
Other comprehensive income (loss), net of tax:
Cash flow hedges	5,227	1,110	783
Other	(22)	93	(66)
Total	5,205	1,203	717
Comprehensive income	$ 154,979	$ 108,248	$ 61,915

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]Series C Preferred Stock [Member]	Preferred Stock [Member]Series D Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]Series C Preferred Stock [Member]	Treasury Stock [Member]Common Treasury Stock [Member]	Total
Beginning and end of year (in shares) at Apr. 30, 2016	150,000		50,589,000				150,000	4,033,000
Beginning and end of year at Apr. 30, 2016	$ 150		$ 506	$ 34,570	$ 190,733	$ (1,807)	$ (5,100)	$ (12,900)	$ 206,152
Beginning of year (in shares) at May. 02, 2015		120,000	50,418,000
Beginning of year at May. 02, 2015		$ 120	$ 504	37,759	129,773	(2,524)
Series D preferred redeemed (in shares)		(120,000)
Series D preferred redeemed		$ (120)		(5,791)
Stock options exercised (in shares)			171,000
Stock options exercised			$ 2	846
Stock-based compensation				228
Stock-based tax benefits				1,528
Net income					61,198				61,198
Common stock cash dividend
Preferred stock dividends & accretion					(238)
Cash flow hedges						783			783
Other						(66)			(66)
Beginning and end of year (in shares) at Apr. 29, 2017	150,000		50,616,000				150,000	4,033,000
Beginning and end of year at Apr. 29, 2017	$ 150		$ 506	35,638	227,928	(604)	$ (5,100)	$ (12,900)	245,618
Beginning of year (in shares) at Apr. 30, 2016	150,000		50,589,000				150,000	4,033,000
Beginning of year at Apr. 30, 2016	$ 150		$ 506	34,570	190,733	(1,807)	$ (5,100)	$ (12,900)	206,152
Series D preferred redeemed (in shares)
Series D preferred redeemed
Stock options exercised (in shares)			27,000
Stock options exercised				365
Stock-based compensation				208
Stock-based tax benefits				495
Net income					107,045				107,045
Common stock cash dividend					(69,850)
Preferred stock dividends & accretion
Cash flow hedges						1,110			1,110
Other						93			93
Beginning and end of year (in shares) at Apr. 28, 2018	150,000		50,651,000				150,000	4,033,000
Beginning and end of year at Apr. 28, 2018	$ 150		$ 507	36,358	307,824	4,601	$ (5,100)	$ (12,900)	331,440
Beginning of year (in shares) at Apr. 29, 2017	150,000		50,616,000				150,000	4,033,000
Beginning of year at Apr. 29, 2017	$ 150		$ 506	35,638	227,928	(604)	$ (5,100)	$ (12,900)	$ 245,618
Series D preferred redeemed (in shares)
Series D preferred redeemed
Stock options exercised (in shares)			35,000						34,650
Stock options exercised			$ 1	559
Stock-based compensation				161
Stock-based tax benefits
Net income					149,774				$ 149,774
Common stock cash dividend					(69,878)
Preferred stock dividends & accretion
Cash flow hedges						5,227			5,227
Other						$ (22)			$ (22)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Operating Activities:
Net income	$ 149,774	$ 107,045	$ 61,198
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	13,226	12,834	12,056
Deferred income tax provision (benefit)	676	1,358	(1,299)
Loss on disposal of property, net	149	72	129
Stock-based compensation	161	208	228
Stock-based tax benefits		495	1,528
Changes in assets and liabilities:
Trade receivables	(13,041)	(10,273)	(1,095)
Inventories	(7,565)	(5,433)	(4,998)
Prepaid and other assets	(5,437)	(2,205)	(485)
Accounts payable	16,753	8,709	4,495
Accrued and other liabilities	25	1,457	8,726
Net cash provided by operating activities	154,721	114,267	80,483
Investing Activities:
Additions to property, plant and equipment	(31,974)	(14,015)	(12,140)
Proceeds from sale of property, plant and equipment	63	28	116
Net cash used in investing activities	(31,911)	(13,987)	(12,024)
Financing Activities:
Dividends paid on common stock	(69,878)	(69,850)
Dividends paid on preferred stock			(186)
Repayments under credit facilities, net			(10,000)
Redemption of preferred stock			(6,000)
Proceeds from stock options exercised	560	365	848
Net cash used in financing activities	(69,318)	(69,485)	(15,338)
Net Increase in Cash and Equivalents	53,492	30,795	53,121
Cash and Equivalents - Beginning of Year	136,372	105,577	52,456
Cash and Equivalents - End of Year	189,864	136,372	105,577
Other Cash Flow Information:
Interest paid	101	202	116
Income taxes paid	$ 56,737	$ 55,901	$ 29,473

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. significant accounting policies Basis of Presentation The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of National Beverage Corp. and all subsidiaries. All significant intercompany transactions and accounts have been eliminated. Our fiscal year ends the Saturday closest to April 30 five six 52 Cash and Equivalents Cash and equivalents are comprised of cash and highly liquid securities (consisting primarily of short-term money-market investments) with an original maturity of three Derivative Financial Instruments We use derivative financial instruments to partially mitigate our exposure to changes in raw material costs. All derivative financial instruments are recorded at fair value in our Consolidated Balance Sheets. We do not 6. Earnings Per Common Share Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options amounting to 323,000 2018, 206,000 2017 219,000 2016. Fair Value The estimated fair values of derivative financial instruments are calculated based on market rates to settle the instruments. These values represent the estimated amounts we would receive upon sale, taking into consideration current market prices and credit worthiness. See Note 6. Impairment of Long-Lived Assets All long-lived assets, excluding goodwill and intangible assets not may not not may Income Taxes Our effective income tax rate is based on estimates of taxes which will ultimately be payable. Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed, more likely than not, not Insurance Programs We maintain self-insured and deductible programs for certain liability, medical and workers’ compensation exposures. Accordingly, we accrue for known claims and estimated incurred but not not April 28, 2018 April 29, 2017, $6.5 $6.9 $5.0 $5.4 Intangible Assets Intangible assets as of April 28, 2018 April 29, 2017 Inventories Inventories are stated at the lower of first first April 28, 2018 $37.6 $23.3 April 29, 2017 $35.0 $18.4 Marketing Costs We are involved in a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote our products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, totaled $49.7 2018, $44.9 2017 $38.8 2016. New Accounting Pronouncements - adopted In March 2016, No. 2016 09, 2016 09” 2016 09 April 30, 2017 $495 $1.5 twelve April 29, 2017 April 30, 2016, 2016 09 $886 twelve April 28, 2018. In November 2015, No. 2015 17, 2015 17” 2015 17 2015 17 April 30, 2017, $3.9 April 29, 2017. In February 2018, 2018 02, 2018 02” 2018 02 third January 27, 2018. not New Accounting Pronouncements – not In May 2014, No. 2014 09, 2014 09” 2014 09 August 12, 2015, 2015 14 2014 09 one April 29, 2018. not In February 2016, No. 2016 02, 2016 02” 2016 02 2016 02 April 28, 2019. In August 2017, 2017 12, 2017 12” 2017 12 April 28, 2019. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Additions, replacements and betterments are capitalized, while maintenance and repairs that do not 5 30 3 15 Revenue Recognition We recognize revenue upon delivery to our customers, based on written sales terms that do not 30 may We offer various sales incentive arrangements to our customers that require customer performance or achievement of certain sales volume targets. Sales incentives are accrued over the period of benefit or expected sales volume. When the incentive is paid in advance, the aggregate incentive is recorded as a prepaid and amortized over the period of benefit. The recognition of these incentives involves the use of judgment related to performance and sales volume estimates that are made based on historical experience and other factors. Sales incentives are accounted for as a reduction of sales and actual amounts ultimately realized may not 2014 09, Revenue from Contracts with Customers April 29, 2018 no Segment Reporting We operate as a single not Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying consolidated statements of income. Such costs aggregated $63.3 2018, $50.0 2017 $44.6 2016. may not Stock-Based Compensation Compensation expense for stock-based compensation awards is recognized over the vesting period based on the grant-date fair value estimated using the Black-Scholes model. See Note 8. Trade Receivables We record trade receivables at net realizable value, which includes an estimated allowance for doubtful accounts. We extend credit based on an evaluation of each customer’s financial condition, generally without requiring collateral. Exposure to credit losses varies by customer principally due to the financial condition of each customer. We monitor our exposure to credit losses and maintain allowances for anticipated losses based on our experience with past due accounts, collectability and our analysis of customer data. Activity in the allowance for doubtful accounts was as follows: (In thousands) Fiscal 2018 Fiscal 2017 Fiscal 2016 Balance at beginning of year $ 468 $ 484 $ 330 Net charge to expense 34 74 232 Net charge-off (50 ) (90 ) (78 ) Balance at end of year $ 452 $ 468 $ 484 As of April 28, 2018 April 29, 2017, not 10% No one 10% three Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and anticipated future actions, actual results may

Note 2 - Property, Plant and Eq

Note 2 - Property, Plant and Equipment	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	2. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of April 28, 2018 April 29, 2017 (In thousands) 2018 2017 Land $ 9,500 $ 9,500 Buildings and improvements 56,947 51,157 Machinery and equipment 194,241 172,257 Total 260,688 232,914 Less accumulated depreciation (174,881 ) (167,764 ) Property, plant and equipment – net $ 85,807 $ 65,150 Depreciation expense was $11.1 2018, $10.7 2017 $10.1 2016.

Note 3 - Accrued Liabilities

Note 3 - Accrued Liabilities	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	3. ACCRUED LIABILITIES Accrued liabilities as of April 28, 2018 April 29, 2017 (In thousands) 2018 2017 Accrued compensation $ 9,790 $ 9,967 Accrued promotions 7,011 8,403 Accrued freight 5,984 2,279 Other 6,933 8,368 Total $ 29,718 $ 29,017

Note 4 - Debt

Note 4 - Debt	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	4. DEBT At April 28, 2018, $100 October 3, 2020 June 18, 2021 .9% one no April 28, 2018 April 29, 2017. April 28, 2018, $2.1 $97.9 The Credit Facilities require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the Credit Facilities), and contain other restrictions, none April 28, 2018,

Note 5 - Capital Stock and Tran

Note 5 - Capital Stock and Transactions With Related Parties	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	5. CAPITAL STOCK AND TRANSACTIONS WITH RELATED PARTIES The Company paid a special cash dividend on Common Stock of $69.9 $1.50 August 4, 2017 January 27, 2017. On January 25, 2013, 400,000 $1 $20 April 29, 2016, 120,000 $6 150,000 $1 The Company is authorized under its stock buyback program to repurchase 1.6 April 28, 2018, 502,060 1,097,940 No three The Company is a party to a management agreement with Corporate Management Advisors, Inc. (“CMA”), a corporation owned by our Chairman and Chief Executive Officer. This agreement was originated in 1991 two 1994, one no one may $4.8 11,000% no $9.8 2018, $8.3 2017 $7.0 2016. $2.4 April 28, 2018 $2.1 April 29, 2017.

Note 6 - Derivative Financial I

Note 6 - Derivative Financial Instruments	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	6. DERIVATIVE FINANCIAL INSTRUMENTS From time to time, we enter into aluminum swap contracts to partially mitigate our exposure to changes in the cost of aluminum cans. Such financial instruments are designated and accounted for as a cash flow hedge. Accordingly, gains or losses attributable to the effective portion of the cash flow hedge are reported in Accumulated Other Comprehensive Income (Loss) (“AOCI”) and reclassified into cost of sales in the period in which the hedged transaction affects earnings. The ineffective portion of the change in fair value of our cash flow hedge was immaterial. The following summarizes the gains (losses) recognized in the Consolidated Statements of Income and AOCI relative to the cash flow hedge for Fiscal 2018, 2017 2016: (In thousands) Fiscal Fiscal Fiscal 2018 2017 2016 Recognized in AOCI- Gain (loss) before income taxes $ 9,498 $ (984 ) $ (5,743 ) Less income tax provision (benefit) 3,085 (365 ) ( 2,131 ) Net 6,413 (619 ) (3,612 ) Reclassified from AOCI to cost of sales- Gain (loss) before income taxes 2,569 (2,749 ) (6,987 ) Less income tax provision (benefit) 1,383 (1,020 ) (2,592 ) Net 1,186 (1,729 ) (4,395 ) Net change to AOCI $ 5,227 $ 1,110 $ 783 As of April 28, 2018, $37.5 no $6.2 12 1. As of April 28, 2018, $6.2 April 29, 2017, $602 $848 $476 not 2

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. INCOME TAXES The provision (benefit) for income taxes consisted of the following: (In thousands) Fiscal Fiscal Fiscal 2018 2017 2016 Current $ 55,039 $ 54,422 $ 32,806 Deferred 676 1,358 (1,299 ) Total $ 55,715 $ 55,780 $ 31,507 Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed more likely than not not April 28, 2018 April 29, 2017 (In thousands) 2018 2017 Deferred tax assets: Accrued expenses and other $ 2,900 $ 4,740 Inventory and amortizable assets 331 538 Total deferred tax assets 3,231 5,278 Deferred tax liabilities: Property 14,858 15,157 Intangibles and other 2,875 2,208 Total deferred tax liabilities 17,733 17,365 Net deferred tax liabilities $ 14,502 $ 12,087 The reconciliation of the statutory federal income tax rate to our effective tax rate is as follows: Fiscal Fiscal Fiscal 2018 2017 2016 Statutory federal income tax rate 30.4 % 35.0 % 35.0 % State income taxes, net of federal benefit 2.4 2.2 2.2 Domestic manufacturing deduction benefit (2.4 ) (3.0 ) (3.0 ) Remeasurement of deferred taxes (2.9 ) - - Other differences (.4 ) .1 (.2 ) Effective income tax rate 27.1 % 34.3 % 34.0 % As of April 28, 2018, $1.7 $191 2018. $1.4 (In thousands) Fiscal Fiscal Fiscal 2018 2017 2016 Beginning balance $ 1,743 $ 1,678 $ 1,801 Increases due to current period tax positions 204 150 145 Decreases due to lapse of statute of limitations and audit resolutions (214 ) (85 ) (268 ) Ending balance $ 1,733 $ 1,743 $ 1,678 We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of April 28, 2018, $238 On December 22, 2017, 35% 21% January 1, 2018. 30.4% 2018, 35% 21% 2018 one $4.3 We file annual income tax returns in the United States and in various state and local jurisdictions. A number of years may 2015 2011.

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	8. STOCK-BASED COMPENSATION Our stock-based compensation program is a broad-based program designed to attract and retain personnel while also aligning participant’s interests with the interests of the shareholders. The 1991 4,800,000 4,800,000 may 1,680,000 may no may five ten The Special Stock Option Plan provides for the issuance of stock options to purchase up to an aggregate of 1,800,000 may 50,000 The Key Employee Equity Partnership Program (“KEEP Program”) provides for the granting of stock options to purchase up to 240,000 50% 6,000 two 60% six We account for stock options under the fair value method of accounting using a Black-Scholes valuation model to estimate the stock option fair value at date of grant. The fair value of stock options is amortized to expense over the vesting period. Stock options granted were 500 2018, no 2017 3,500 2016. 8.0 2018 8.0 2016; 23.8% 2018 29.0% 2016; 2.4% 2018 2.1% 2016; 1.6% 2018 3.3% 2016. no 2018 2016. The following is a summary of stock option activity for Fiscal 2018: Number of Shares Price (a) Options outstanding, beginning of year 383,595 $ 11.47 Granted 500 29.61 Exercised (34,650 ) 16.15 Cancelled (4,500 ) 17.59 Options outstanding, end of year 344,945 10.84 Options exercisable, end of year 209,579 8.49 _______________________________ (a) Stock-based compensation expense was $161 2018, $208 2017 $228 2016. $140 2018, $362 2017 $652 2016. $3.0 2018, $1.5 2017 $5.2 2016. $560 2018, $365 2017 $848 2016. $886 2018, $495 2017 $1.5 2016. $44.50 2018. As of April 28, 2018, $268 3.3 April 28, 2018 4.4 $27.3 April 28, 2018 3.5 $17 We have a stock purchase plan which provides for the purchase of up to 1,536,000 two not not five April 28, 2018, no

Note 9 - Pension Plans

Note 9 - Pension Plans	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	9. PENSION PLANS The Company contributes to certain pension plans under collective bargaining agreements and to a discretionary profit sharing plan. Annual contributions (including contributions to multi-employer plans reflected below) were $3.4 2018, $3.1 2017 $2.9 2016. The Company participates in three 2017, one not not Summarized below is certain information regarding the Company’s participation in significant multi-employer pension plans including the financial improvement plan or rehabilitation plan status (“FIP/RP Status”) and the zone status under the Pension Protection Act (“PPA”). The most recent PPA zone status available in Fiscal 2018 2017 December 31, 2016 2015, PPA Zone Status Fiscal Fiscal Surcharge Pension Fund 2018 2017 FIP/RP Status Imposed Central States, Southeast and Southwest Areas Pension Plan (EIN no. 36 6044243 Red Red Implemented Yes Western Conference of Teamsters Pension Trust Fund (EIN no. 91 6145047 Green Green Not No For the plan years ended December 31, 2016 December 31, 2015, not 5500 5% October 18, 2021 May 14, 2021, The Company’s contributions for all multi-employer pension plans for the last three (In thousands) Fiscal Fiscal Fiscal Pension Fund 2018 2017 2016 CSSS Fund $ 1,370 $ 1,262 $ 1,172 WCT Fund 619 477 485 Other multi-employer pension funds 228 201 448 Total $ 2,217 $ 1,940 $ 2,105

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. COMMITMENTS AND CONTINGENCIES We lease buildings, machinery and equipment under various non-cancelable operating lease agreements expiring at various dates through 2029. $13.3 2018, $12.0 2017 $9.2 2016. Our minimum lease payments under non-cancelable operating leases as of April 28, 2018 (In thousands) Fiscal 2019 $ 9,182 Fiscal 2020 7,615 Fiscal 2021 5,241 Fiscal 2022 3,223 Fiscal 2023 1,656 Thereafter 1,531 Total minimum lease payments $ 28,448 We enter into various agreements with suppliers for the purchase of raw materials, the terms of which may April 28, 2018, $11.2 2022. As of April 28, 2018, $4.7 2019. From time to time, we are a party to various litigation matters and claims arising in the ordinary course of business. We do not

Note 11 - Quarterly Financial D

Note 11 - Quarterly Financial Data (Unaudited)	12 Months Ended
	Apr. 28, 2018
Notes to Financial Statements
Quarterly Financial Information [Text Block]	11. QUARTERLY FINANCIAL DATA (UNAUDITED) (In thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2018 Net sales $ 259,832 $ 244,119 $ 227,477 $ 244,306 Gross profit 104,503 96,080 91,193 99,359 Net income 38,272 33,980 41,080 36,442 Earnings per common share – basic $ .82 $ .73 $ .88 $ .78 Earnings per common share – diluted $ .82 $ .72 $ .88 $ .78 Fiscal 2017 Net sales $ 217,108 $ 203,180 $ 194,564 $ 212,066 Gross profit 85,494 78,717 75,920 85,946 Net income 28,995 24,604 24,285 29,161 Earnings per common share – basic $ .62 $ .53 $ .52 $ .63 Earnings per common share – diluted $ .62 $ .53 $ .52 $ .62

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 28, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of National Beverage Corp. and all subsidiaries. All significant intercompany transactions and accounts have been eliminated. Our fiscal year ends the Saturday closest to April 30 five six 52
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Equivalents Cash and equivalents are comprised of cash and highly liquid securities (consisting primarily of short-term money-market investments) with an original maturity of three
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments We use derivative financial instruments to partially mitigate our exposure to changes in raw material costs. All derivative financial instruments are recorded at fair value in our Consolidated Balance Sheets. We do not 6.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Common Share Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options amounting to 323,000 2018, 206,000 2017 219,000 2016.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value The estimated fair values of derivative financial instruments are calculated based on market rates to settle the instruments. These values represent the estimated amounts we would receive upon sale, taking into consideration current market prices and credit worthiness. See Note 6.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets All long-lived assets, excluding goodwill and intangible assets not may not not may
Income Tax, Policy [Policy Text Block]	Income Taxes Our effective income tax rate is based on estimates of taxes which will ultimately be payable. Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed, more likely than not, not
Liability Reserve Estimate, Policy [Policy Text Block]	Insurance Programs We maintain self-insured and deductible programs for certain liability, medical and workers’ compensation exposures. Accordingly, we accrue for known claims and estimated incurred but not not April 28, 2018 April 29, 2017, $6.5 $6.9 $5.0 $5.4
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets Intangible assets as of April 28, 2018 April 29, 2017
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of first first April 28, 2018 $37.6 $23.3 April 29, 2017 $35.0 $18.4
Advertising Costs, Policy [Policy Text Block]	Marketing Costs We are involved in a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote our products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, totaled $49.7 2018, $44.9 2017 $38.8 2016.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements - adopted In March 2016, No. 2016 09, 2016 09” 2016 09 April 30, 2017 $ 495 $ 1.5 twelve April 29, 2017 April 30, 2016, 2016 09 $886 twelve April 28, 2018. In November 2015, No. 2015 17, 2015 17” 2015 17 2015 17 April 30, 2017, $3.9 April 29, 2017. In February 2018, 2018 02, 2018 02” 2018 02 third January 27, 2018. not New Accounting Pronouncements – not In May 2014, No. 2014 09, 2014 09” 2014 09 August 12, 2015, 2015 14 2014 09 one April 29, 2018. not In February 2016, No. 2016 02, 2016 02” 2016 02 2016 02 April 28, 2019. In August 2017, 2017 12, 2017 12” 2017 12 April 28, 2019.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Additions, replacements and betterments are capitalized, while maintenance and repairs that do not 5 30 3 15
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition We recognize revenue upon delivery to our customers, based on written sales terms that do not 30 may We offer various sales incentive arrangements to our customers that require customer performance or achievement of certain sales volume targets. Sales incentives are accrued over the period of benefit or expected sales volume. When the incentive is paid in advance, the aggregate incentive is recorded as a prepaid and amortized over the period of benefit. The recognition of these incentives involves the use of judgment related to performance and sales volume estimates that are made based on historical experience and other factors. Sales incentives are accounted for as a reduction of sales and actual amounts ultimately realized may not 2014 09, Revenue from Contracts with Customers April 29, 2018 no
Segment Reporting, Policy [Policy Text Block]	Segment Reporting We operate as a not
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying consolidated statements of income. Such costs aggregated $63.3 2018, $50.0 2017 $44.6 2016. may not
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation Compensation expense for stock-based compensation awards is recognized over the vesting period based on the grant-date fair value estimated using the Black-Scholes model. See Note 8.
Receivables, Policy [Policy Text Block]	Trade Receivables We record trade receivables at net realizable value, which includes an estimated allowance for doubtful accounts. We extend credit based on an evaluation of each customer’s financial condition, generally without requiring collateral. Exposure to credit losses varies by customer principally due to the financial condition of each customer. We monitor our exposure to credit losses and maintain allowances for anticipated losses based on our experience with past due accounts, collectability and our analysis of customer data. Activity in the allowance for doubtful accounts was as follows: (In thousands) Fiscal 2018 Fiscal 2017 Fiscal 2016 Balance at beginning of year $ 468 $ 484 $ 330 Net charge to expense 34 74 232 Net charge-off (50 ) (90 ) (78 ) Balance at end of year $ 452 $ 468 $ 484 As of April 28, 2018 April 29, 2017, not 10% No one 10% three
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and anticipated future actions, actual results may

Note 1 - Significant Accounti20

Note 1 - Significant Accounting Policies (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	(In thousands) Fiscal 2018 Fiscal 2017 Fiscal 2016 Balance at beginning of year $ 468 $ 484 $ 330 Net charge to expense 34 74 232 Net charge-off (50 ) (90 ) (78 ) Balance at end of year $ 452 $ 468 $ 484

Note 2 - Property, Plant and 21

Note 2 - Property, Plant and Equipment (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In thousands) 2018 2017 Land $ 9,500 $ 9,500 Buildings and improvements 56,947 51,157 Machinery and equipment 194,241 172,257 Total 260,688 232,914 Less accumulated depreciation (174,881 ) (167,764 ) Property, plant and equipment – net $ 85,807 $ 65,150

Note 3 - Accrued Liabilities (T

Note 3 - Accrued Liabilities (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(In thousands) 2018 2017 Accrued compensation $ 9,790 $ 9,967 Accrued promotions 7,011 8,403 Accrued freight 5,984 2,279 Other 6,933 8,368 Total $ 29,718 $ 29,017

Note 6 - Derivative Financial23

Note 6 - Derivative Financial Instruments (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal 2018 2017 2016 Recognized in AOCI- Gain (loss) before income taxes $ 9,498 $ (984 ) $ (5,743 ) Less income tax provision (benefit) 3,085 (365 ) ( 2,131 ) Net 6,413 (619 ) (3,612 ) Reclassified from AOCI to cost of sales- Gain (loss) before income taxes 2,569 (2,749 ) (6,987 ) Less income tax provision (benefit) 1,383 (1,020 ) (2,592 ) Net 1,186 (1,729 ) (4,395 ) Net change to AOCI $ 5,227 $ 1,110 $ 783

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal 2018 2017 2016 Current $ 55,039 $ 54,422 $ 32,806 Deferred 676 1,358 (1,299 ) Total $ 55,715 $ 55,780 $ 31,507
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	(In thousands) 2018 2017 Deferred tax assets: Accrued expenses and other $ 2,900 $ 4,740 Inventory and amortizable assets 331 538 Total deferred tax assets 3,231 5,278 Deferred tax liabilities: Property 14,858 15,157 Intangibles and other 2,875 2,208 Total deferred tax liabilities 17,733 17,365 Net deferred tax liabilities $ 14,502 $ 12,087
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Fiscal Fiscal Fiscal 2018 2017 2016 Statutory federal income tax rate 30.4 % 35.0 % 35.0 % State income taxes, net of federal benefit 2.4 2.2 2.2 Domestic manufacturing deduction benefit (2.4 ) (3.0 ) (3.0 ) Remeasurement of deferred taxes (2.9 ) - - Other differences (.4 ) .1 (.2 ) Effective income tax rate 27.1 % 34.3 % 34.0 %
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal 2018 2017 2016 Beginning balance $ 1,743 $ 1,678 $ 1,801 Increases due to current period tax positions 204 150 145 Decreases due to lapse of statute of limitations and audit resolutions (214 ) (85 ) (268 ) Ending balance $ 1,733 $ 1,743 $ 1,678

Note 8 - Stock-based Compensa25

Note 8 - Stock-based Compensation (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Price (a) Options outstanding, beginning of year 383,595 $ 11.47 Granted 500 29.61 Exercised (34,650 ) 16.15 Cancelled (4,500 ) 17.59 Options outstanding, end of year 344,945 10.84 Options exercisable, end of year 209,579 8.49

Note 9 - Pension Plans (Tables)

Note 9 - Pension Plans (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Schedule of Multiemployer Plans [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal Pension Fund 2018 2017 2016 CSSS Fund $ 1,370 $ 1,262 $ 1,172 WCT Fund 619 477 485 Other multi-employer pension funds 228 201 448 Total $ 2,217 $ 1,940 $ 2,105

Note 10 - Commitments and Con27

Note 10 - Commitments and Contingencies (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	(In thousands) Fiscal 2019 $ 9,182 Fiscal 2020 7,615 Fiscal 2021 5,241 Fiscal 2022 3,223 Fiscal 2023 1,656 Thereafter 1,531 Total minimum lease payments $ 28,448

Note 11 - Quarterly Financial28

Note 11 - Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Apr. 28, 2018
Notes Tables
Quarterly Financial Information [Table Text Block]	(In thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2018 Net sales $ 259,832 $ 244,119 $ 227,477 $ 244,306 Gross profit 104,503 96,080 91,193 99,359 Net income 38,272 33,980 41,080 36,442 Earnings per common share – basic $ .82 $ .73 $ .88 $ .78 Earnings per common share – diluted $ .82 $ .72 $ .88 $ .78 Fiscal 2017 Net sales $ 217,108 $ 203,180 $ 194,564 $ 212,066 Gross profit 85,494 78,717 75,920 85,946 Net income 28,995 24,604 24,285 29,161 Earnings per common share – basic $ .62 $ .53 $ .52 $ .63 Earnings per common share – diluted $ .62 $ .53 $ .52 $ .62

Note 1 - Significant Accounti29

Note 1 - Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Apr. 28, 2018USD ($)shares	Apr. 29, 2017USD ($)shares	Apr. 30, 2016USD ($)shares
Incremental Common Shares Attributable to Dilutive Effect of Equity Unit Purchase Agreements | shares	323,000	206,000	219,000
Self Insurance Reserve, Noncurrent, Covered by Insurance	$ 5,000	$ 5,400
Inventory, Finished Goods, Gross, Total	37,600	35,000
Inventory, Raw Materials, Gross, Total	23,300	18,400
Marketing Expense	49,700	44,900	$ 38,800
Income Tax Expense (Benefit), Total	$ 55,715	55,780	31,507
Number of Operating Segments	1
Shipping and Handling Costs	$ 63,300	50,000	$ 44,600
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	30 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years
April 29, 2017 [Member] | Reclassification from Current Deferred Taxes to Noncurrent Deferred Taxes [Member]
Prior Period Reclassification Adjustment	$ 3,900
Reclassification of Excess Tax Benefits from Financing to Operating Activities [Member] | April 29, 2017 [Member]
Prior Period Reclassification Adjustment	495
Reclassification of Excess Tax Benefits from Financing to Operating Activities [Member] | April 30, 2016 [Member]
Prior Period Reclassification Adjustment	(1,500)
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit), Total	(886)
Other Noncurrent Liabilities [Member]
Self Insurance Reserve and Coverage by Insurance, Noncurrent	$ 6,500	$ 6,900

Note 1 - Significant Accounti30

Note 1 - Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Balance at beginning of year	$ 468	$ 484	$ 330
Net charge to expense	34	74	232
Net charge-off	(50)	(90)	(78)
Balance at end of year	$ 452	$ 468	$ 484

Note 2 - Property, Plant and 31

Note 2 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Depreciation, Total	$ 11.1	$ 10.7	$ 10.1

Note 2 - Property, Plant and 32

Note 2 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Apr. 28, 2018	Apr. 29, 2017
Land	$ 9,500	$ 9,500
Buildings and improvements	56,947	51,157
Machinery and equipment	194,241	172,257
Total	260,688	232,914
Less accumulated depreciation	(174,881)	(167,764)
Property, plant and equipment – net	$ 85,807	$ 65,150

Note 3 - Accrued Liabilities -

Note 3 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 28, 2018	Apr. 29, 2017
Accrued compensation	$ 9,790	$ 9,967
Accrued promotions	7,011	8,403
Accrued freight	5,984	2,279
Other	6,933	8,368
Total	$ 29,718	$ 29,017

Note 4 - Debt (Details Textual)

Note 4 - Debt (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000
Long-term Line of Credit, Total	0	$ 0
Letters of Credit Outstanding, Amount	2,100
Line of Credit Facility, Remaining Borrowing Capacity	$ 97,900
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	0.90%

Note 5 - Capital Stock and Tr35

Note 5 - Capital Stock and Transactions With Related Parties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Aug. 04, 2017	Jan. 27, 2017	Apr. 29, 2016	Jan. 25, 2013	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016	Apr. 28, 2018
Payments of Ordinary Dividends, Common Stock	$ 69,900	$ 69,900			$ 69,878	$ 69,850
Common Stock, Dividends, Per Share, Cash Paid	$ 1.50	$ 1.50
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			1,600,000
Stock Repurchased During Period, Shares								502,060
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased					1,097,940			1,097,940
Increase (Decrease) in Shareholder Value					$ 4,800,000
Percentage Increase (Decrease) of Shareholder Value					11000.00%
CMA [Member]
Related Party Transaction, Amounts of Transaction					$ 9,800	8,300	$ 7,000
Accounts Payable, Total					2,400	$ 2,100		$ 2,400
Series D Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues				400,000
Preferred Stock, Par or Stated Value Per Share				$ 1
Stock Issued During Period, Value, New Issues				$ 20,000
Stock Redeemed or Called During Period, Shares			120,000
Payments for Repurchase of Redeemable Preferred Stock			$ 6,000
Dividends Payable, Current					$ 0			$ 0
Series C Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share					$ 1	$ 1		$ 1
Preferred Stock, Shares Issued, Total					150,000	150,000		150,000

Note 6 - Derivative Financial36

Note 6 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands	Apr. 28, 2018	Apr. 29, 2017
Derivative, Notional Amount	$ 37,500
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months	6,200
Derivative Asset, Current	$ 6,200
Prepaid Expenses and Other Current Assets [Member]
Derivative Asset, Current		$ 602
Accrued Liabilities1 [Member]
Derivative Liability, Current		848
Other Liabilities [Member]
Derivative Liability, Noncurrent		$ 476

Note 6 - Derivative Financial37

Note 6 - Derivative Financial Instruments - Derivatives Instruments, Statements of Financial Performance and Financial Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Recognized in AOCI-
Gain (loss) before income taxes	$ 9,498	$ (984)	$ (5,743)
Less income tax provision (benefit)	3,085	(365)	(2,131)
Net	6,413	(619)	(3,612)
Reclassified from AOCI to cost of sales-
Gain (loss) before income taxes	2,569	(2,749)	(6,987)
Less income tax provision (benefit)	1,383	(1,020)	(2,592)
Net	1,186	(1,729)	(4,395)
Net change to AOCI	$ 5,227	$ 1,110	$ 783

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Apr. 27, 2019	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016	May 02, 2015
Unrecognized Tax Benefits, Ending Balance		$ 1,733	$ 1,743	$ 1,678	$ 1,801
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions		191
Changes in IncomeTax if All Uncertain Tax Positions Prevail		1,400
Unrecognized Tax Benefits, Interest on Income Taxes Accrued		$ 238
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		30.40%	35.00%	35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ (4,300)
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

Note 7 - Income Taxes - Compone

Note 7 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Current	$ 55,039	$ 54,422	$ 32,806
Deferred income tax provision (benefit)	676	1,358	(1,299)
Total	$ 55,715	$ 55,780	$ 31,507

Note 7 - Income Taxes - Deferre

Note 7 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 28, 2018	Apr. 29, 2017
Deferred tax assets:
Accrued expenses and other	$ 2,900	$ 4,740
Inventory and amortizable assets	331	538
Total deferred tax assets	3,231	5,278
Deferred tax liabilities:
Property	14,858	15,157
Intangibles and other	2,875	2,208
Total deferred tax liabilities	17,733	17,365
Net deferred tax liabilities	$ 14,502	$ 12,087

Note 7 - Income Taxes - Reconci

Note 7 - Income Taxes - Reconciliation of Income Tax Rate (Details)	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Statutory federal income tax rate	30.40%	35.00%	35.00%
State income taxes, net of federal benefit	2.40%	2.20%	2.20%
Domestic manufacturing deduction benefit	(2.40%)	(3.00%)	(3.00%)
Remeasurement of deferred taxes	(2.90%)
Other differences	(0.40%)	0.10%	(0.20%)
Effective income tax rate	27.10%	34.30%	34.00%

Note 7 - Income Taxes - Unrecog

Note 7 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Beginning balance	$ 1,743	$ 1,678	$ 1,801
Increases due to current period tax positions	204	150	145
Decreases due to lapse of statute of limitations and audit resolutions	(214)	(85)	(268)
Ending balance	$ 1,733	$ 1,743	$ 1,678

Note 8 - Stock-based Compensa43

Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	500	0	3,500
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	8 years		8 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	23.80%		29.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.40%		2.10%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.60%		3.30%
Allocated Share-based Compensation Expense, Total	$ 161	$ 208	$ 228
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	140	362	652
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	3,000	1,500	5,200
Proceeds from Stock Options Exercised	560	365	848
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 886	$ 495	$ 1,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 44.50
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 268
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 109 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 27,300
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 17,000
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total	1,536,000
Employee Stock Purchase Plan, Eligibility Requirement, Length of Employment	2 years
Stock Issued During Period, Shares, Employee Stock Purchase Plans	0
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture Rate, Maximum	0.00%		0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture Rate, Minimum	0.00%		0.00%
Omnibus Plan [Member]
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Authorized Per Individual	1,680,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Omnibus Plan [Member] | Stock Options or Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	4,800,000
Omnibus Plan [Member] | SARS Dividend Equivalents and Other Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	4,800,000
Special Stock Option Plan [Member] | Determined by Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,800,000
Other Plan Member | Determined By Chairman Member
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	50,000
KEEP Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	240,000
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Authorized Per Individual	6,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	6 years
Share Based Compensation Arrangement by Share Based Payment Award Percentage of Purchased Shares Matched	50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants, Period	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	60.00%

Note 8 - Stock-based Compensa44

Note 8 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares		12 Months Ended
		Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Options outstanding, beginning of year (in shares)		383,595
Options outstanding, beginning of year (in dollars per share)	[1]	$ 11.47
Granted (in shares)		500	0	3,500
Granted (in dollars per share)	[1]	$ 29.61
Exercised (in shares)		(34,650)
Exercised (in dollars per share)	[1]	$ 16.15
Cancelled (in shares)		(4,500)
Cancelled (in dollars per share)	[1]	$ 17.59
Options outstanding, end of year (in shares)		344,945	383,595
Options outstanding, end of year (in dollars per share)	[1]	$ 10.84	$ 11.47
Options exercisable, end of year (in shares)		209,579
Options exercisable, end of year (in dollars per share)	[1]	$ 8.49
[1]	Weighted average exercise price.

Note 9 - Pension Plans (Details

Note 9 - Pension Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Payment for Pension Benefits	$ 3.4	$ 3.1	$ 2.9

Note 9 - Pension Plans - Contri

Note 9 - Pension Plans - Contributions for All Multi-employer Pension Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Fund	$ 2,217	$ 1,940	$ 2,105
CSSS Fund [Member]
Fund	1,370	1,262	1,172
WCT Fund [Member]
Fund	619	477	485
Other Multi Employer Pension Funds [Member]
Fund	$ 228	$ 201	$ 448

Note 10 - Commitments and Con47

Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Operating Leases, Rent Expense, Total	$ 13.3	$ 12	$ 9.2
Raw Material [Member]
Purchase Obligation, Due in Next Twelve Months	11.2
Commitments for Plant and Equipment [Member]
Purchase Obligation, Due in Next Twelve Months	$ 4.7

Note 10 - Commitments and Con48

Note 10 - Commitments and Contingencies - Future Minimum Rental Payments (Details) $ in Thousands	Apr. 28, 2018USD ($)
Fiscal 2,019	$ 9,182
Fiscal 2,020	7,615
Fiscal 2,021	5,241
Fiscal 2,022	3,223
Fiscal 2,023	1,656
Thereafter	1,531
Total minimum lease payments	$ 28,448

Note 11 - Quarterly Financial49

Note 11 - Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 28, 2018	Jan. 27, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 28, 2018	Apr. 29, 2017	Apr. 30, 2016
Net sales	$ 244,306	$ 227,477	$ 244,119	$ 259,832	$ 212,066	$ 194,564	$ 203,180	$ 217,108	$ 975,734	$ 826,918	$ 704,785
Gross profit	99,359	91,193	96,080	104,503	85,946	75,920	78,717	85,494	391,135	326,077	241,437
Net income	$ 36,442	$ 41,080	$ 33,980	$ 38,272	$ 29,161	$ 24,285	$ 24,604	$ 28,995	$ 149,774	$ 107,045	$ 61,198
Earnings per common share – basic (in dollars per share)	$ 0.78	$ 0.88	$ 0.73	$ 0.82	$ 0.63	$ 0.52	$ 0.53	$ 0.62	$ 3.21	$ 2.30	$ 1.31
Earnings per common share – diluted (in dollars per share)	0.78	0.88	0.72	0.82	0.62	0.52	0.53	0.62	3.19	2.29	1.31
Earnings per common share – basic (in dollars per share)	0.78	0.88	0.73	0.82	0.63	0.52	0.53	0.62	3.21	2.30	1.31
Earnings per common share – diluted (in dollars per share)	$ 0.78	$ 0.88	$ 0.72	$ 0.82	$ 0.62	$ 0.52	$ 0.53	$ 0.62	$ 3.19	$ 2.29	$ 1.31